DreamWorks Animation announced that its chief creative officer Bill Damaschke will step down from his position as veteran producers Bonnie Arnold and Mireille Soria transition into co-presidents of feature animation.

The reorganization comes after a turbulent period for DreamWorks Animation, which has been attempting to diversify its operations after a string of box-office misfires that rattled investors and caused a sharp decline in the company's share price.

The Glendale company, founded two decades ago, has struggled to replicate the success of its earlier "Shrek," "Kung Fu Panda" and "Madagascar" movies.

Unlike rival studios owned by media conglomerates, DreamWorks has little cushion when one movie flops. The company posted a $15.4-million loss in the second quarter and has reported three write-downs in the last two years for "Mr. Peabody & Sherman," "Rise of the Guardians" and "Turbo."

Damaschke, tapped as chief creative officer in 2011, has been at the company since 1995.

Arnold, a 12-year veteran of DreamWorks Animation, and Soria, a 15-year veteran of DreamWorks Animation, are the lead producers behind the studio's successful "How to Train Your Dragon" and "Madagascar" movies. Collectively, they have produced eight films at the studio that have grossed more than $3.5 billion globally.

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"Mireille and Bonnie are two of the most accomplished and prolific filmmakers working in feature animation today," Katzenberg said in a statement. "I am confident in their ability to marshal the extensive creative resources available at our studio and lead DreamWorks's vast ranks of artists and filmmakers as they produce the highest quality entertainment."

CORRECTION

8:15 a.m.: This post has been updated to reflect that DreamWorks did not report a write-down for "The Croods." The studio reported write-downs for "Mr. Peabody & Sherman," "Rise of the Guardians" and "Turbo."